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SEC Fines Ohio Investment Company For Making Illegal Campaign Contributions

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The U.S. Securities and Exchange Commission is fining a Cleveland-area investment firm 100 thousand dollars over recent campaign contributions that federal officials say violated pay-to-play rules. 

The SEC identified 46 thousand dollars in campaign contributions a company official with Ancora Advisors made between 2013 and 2017 to Governor John Kasich, state treasurer Josh Mandel and Jim Renacci's gubernatorial campaign. The violations were deemed illegal because Ancora performed work for a public university and public pension system within two years of making the contributions. Ancora officials say the violations were inadvertent and that additional training requirements have been imposed to guard against any future compliance issues.

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